GBP/USD – 1H – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance at 1.37127 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.36426 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘ ‘ indicator layout is discovered. The indicator shows ‘ ‘. this is usually a bearish signal. The currency pair is likely to fall.
There is also a ‘Bullish Belt Hold’ candle chart pattern is detected. The candles show ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.37522 |
| Next High | 1.37127 |
| Current Price | 1.37697 |
| Next Low | 1.36426 |
| 2nd Low | 1.34015 |
| 3rd Low | 1.34008 |
1.37127 – 1.36817 – 1.34589 – 1.36426 – 1.34015 – 1.34008 —
1.36813 – 1.37411 —
56.225811147071 – 74.460805910428 —
– —
1.37127 – 1769450400
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold – – – – – – – – –